The top 10 non-stablecoin cryptocurrencies had a mixed performance during trading in Hong Kong, while Bitcoin and Ether saw gains.
Investors are nevertheless upbeat as fresh institutional competitors like Fidelity get ready to submit their Bitcoin ETF applications. From 7 a.m. to 4:30 p.m. in Hong Kong, Bitcoin increased by 1.07%, while Ether increased by 1.2% during the same period.
Price of Bitcoin
After multiple significant institutions, including BlackRock, submitted their spot Bitcoin ETF proposals over the past few weeks, the risk appetite remained high. The world‘s largest asset manager Fidelity is getting ready to submit its own spot Bitcoin ETF application, which is viewed as a crucial step towards the legitimacy of cryptocurrencies and may attract additional institutional investors to the market.
The day’s largest gainer was Solana’s Sol token, which increased 1.32% to US$16.27. The largest loser of the day was Dogecoin, which fell 1.91% to US$0.06297.
- Bitcoin and Ether gain in Hong Kong, with institutional competitors preparing applications.
- Solana’s Sol token gains 1.32%, and Dogecoin loses 1.91%.
- Powell’s comments prompted stock futures rise; Fed predicts 5.6% interest rate increase.
Over the last 24 hours, the overall market capitalization of cryptocurrencies increased by 0.03% to US$1.17 trillion while market volume fell by 21.30% to US$29.58 billion. The market share of Bitcoin increased to 50.4%, hitting a two-year high.
Sales of NFTs for Bitcoin increased 111.14% to US$3.05 million, while those for Ethereum decreased 65.84% to US$23.49 million. As a result of collectors’ dissatisfaction with the release, Azuki Elementals’ sales dropped by 41.7% to US$3.89 million. The Forkast 500 NFT index fell to 2,848.52 points in the 24 hours prior to 4:30 p.m. in Hong Kong, a 0.64% fall.
Powell made some aggressive comments, but U.S. stock futures rose during Hong Kong trading on Thursday. According to the Fed’s projection, interest rates will increase twice more that year, to 5.6%, in 2023.
The likelihood of a subsequent 25-basis-point rate hike has increased from 74.4% last week to 84.3%, according to the CME FedWatch Tool.
